Blockchain Daily News – Edition 152, 19.02.2018
February 19, 2018
Blockchain Daily News – Edition 154, 21.02.2018
February 21, 2018

Blockchain Daily News – Edition 153, 20.02.2018

Blockchain Daily News

by Florin Oprea

Edition 153, 20.02.2018

Fans’ Section

Congress Sets Sights On Federal Cryptocurrency Rules

David Morgan – Reuters

Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters.

FAO: C’mon, it’s easy. Repeat after me: “First you regulate it, then you tax it”… Don’t say we didn’t warn you that regulation is coming FAST! Why this haste for it? I suggest you read below our opinion on recent market volatility and what this could mean for the future of the cryptoverse. We first published it on Linkedin Pulse on Feb 13th, and now you can read it on Global Association of Risk Professionals’ website!

New Beginnings In Global Financial Markets: Crisis Or Maturity

Florin Adrian Oprea, Decebal N. Todăriță & Jeffrey Kutler – GARP

BoE’s Carney Says Bitcoin Has ‘Pretty Much Failed’ As Currency

David Milliken – Reuters

Bitcoin has failed as a currency measured by standard benchmarks, and is neither a store of value nor a useful way to buy things, Bank of England Governor Mark Carney said.

“It has pretty much failed thus far on … the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange,” Carney said.

FAO: Follow this succession and tell me what do you think it may happen next:

  • today we have BoE
  • World Bank President’s remarks – earlier this month – here
  • BIS Head’s remarks – also earlier this month – here
  • And of course Super Mario’s remarks – at least here

And we don’t even think about adding remarks of commercial/investment banks chiefs into discussion.

Send your ideas on our LINKEDIN GROUP or TELEGRAM GROUP!

Deals & Investments

Banks Buy Stakes in Blockchain Startup SETL

Nikhilesh De – CoinDesk

Citi has bought a stake in blockchain startup SETL.The move comes less than three weeks after the French banking institution Credit Agricole also became a minority shareholder. Other investors in the startup include Computershare, Deloitte, and banking company S2iEM.

Press release here.

Cryptocurrencies

Venezuela’s New Bitcoin: An Ingenious Plan Or Worthless Cryptocurrency?

John Otis – The Guardian

Is Venezuela’s new cryptocurrency an ingenious plan to evade U.S. sanctions? Or will it turn out to be a South American shitcoin? That is the question facing Venezuela as it prepares for the pre-sale of its new bitcoin-like digital currency called the petro.The launch  comes amid a deep economic crisis and a crackdown on democratic freedoms that have left President Nicolás Maduro’s socialist government politically isolated and cut off from most international financing.

FAO: This sounds a bit “binary”, don’t you think? BTW what do you think about this? Why don’t you share your thoughts with others using our LINKEDIN GROUP or TELEGRAM GROUP?

Malaysian Firm HelloGold Adds Islamic Certification To Cryptocurrency

Bernardo Vizcaino – Reuters

Malaysia-based firm HelloGold has received a sharia-compliant certification for its gold-backed cryptocurrency and plans to launch its online gold platform in Thailand later this year, the company said.

Exchanges & Trading Venues

Coinbase Runs From One Fire To The Next

Julie Verhage – Bloomberg

Growing Pains: Coinbase Struggles With Banks, Payment Processors, Card Issuers

Rachel McIntosh – Finance Magnates

Coinbase is facing a new set of challenges as banks and card issuers change their crypto policies.

FAO: Already a victim of its own success?

BitPeople

You Can Now Study Blockchain At University

Brisbane Times

An Australian university is banking on Blockchain by launching a nation-first course in the emerging sector. Australia’s first short course on Blockchain strategy, aiming to educate the nation’s next wave of tech start-up entrepreneurs, will take flight at Melbourne’s RMIT University.

Regulation

Israel To Tax Bitcoin As An Asset, Not A Currency

Efrat Neuman – Haaretz

Bitcoin isn’t a currency and people buying and selling the cryptocurrency will be subject to tax, the Israel Tax Authority said in an updated circular.

FAO: 25% capital gains tax for private investors, 47% marginal rate for businesses…Israel just set things straight regarding taxation in the “ cryptoverse”…so “show them the moneeey”….

DNT: It looks like everything we said about taxing cryptos becomes true, step by step…Just check our FREE ARCHIVE to convince yourselves.

California Bill Would Legally Recognize Blockchain Data

Annaliese Milano  – CoinDesk

A California lawmaker has introduced a bill that, if passed, would update the state’s electronic records laws to account for blockchain signatures and smart contracts.

Assembly Bill 2658, submitted by Assemblymember Ian Calderon expands the definition of electronic records and signatures – contained in the Uniform Electronic Transactions Act – to include records and signatures on the blockchain.

Regional Government In Russia to Test Blockchain Payments

Annaliese Milano – CoinDesk

Vnesheconombank,, the Russian state-owned development bank, has inked a deal with the regional government of Kaliningrad to pilot a new blockchain-based payment system.

Officials including Kaliningrad governor Anton Alkikhanov and VEB chairman Sergei Gorkov met at the Russian Investment Forum in Sochi to sign the agreement underpinning the trials.

Events

Africa FinTech Summit August 16-17 2018 – Accra, Ghana – Agenda here

FAO: I am one of the speakers at the event, you can check the entire list of speakers here. Please note that I am building up my agenda for 2018 – if you want me as a speaker at your events better get in touch before my year gets uber busy – contact me here.

Analysis

Retail Investors Would ‘Bear The Brunt’ Of A Cryptocurrency Market Collapse, Study Says

Ryan Browne – CNBC

Retail investors would feel the impact of a cryptocurrency market collapse the most, while institutional investors would be better protected against such an event, according to researchers.

FAO: But what do you think it would happen with the crypto markets if the financial markets experience a huge drop? Better read our opinion on this in GARP.

New Beginnings In Global Financial Markets: Crisis Or Maturity

Florin Adrian Oprea, Decebal N. Todăriță & Jeffrey Kutler – GARP

Other news

Commodities Shipper Seeks $150 Million To Start Cryptocurrency

Isis Almeida – Bloomberg

The shipping agency that struck the first freight deal settled in Bitcoin is now seeking $150 million to launch its own cryptocurrency. Prime Shipping Foundation, a partnership between Gibraltar-based Quorum Capital and ship broker Interchart LLC, is looking to raise the funds by midyear in a so-called ICON.

Long Blockchain Is At Risk For Exchange Removal Again

Nikhilesh De – CoinDesk

Long Blockchain, the beverage company-turned-crypto-firm, is facing a delisting from the Nasdaq stock exchange, public records show.

 

FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News